The Biggest Sale Of The Year

110 Field Point Circle, Greenwich, closed Monday at $48M.

And it’s only February! But at $48,000,000, the sale of the spectacular, nearly brand new house at 110 Field Point Circle, Greenwich, CT is sure to hold the record for the rest of the year.

The following are unconfirmed rumors:

Seller was hedge-fund genius, Chris Shumway, who packed up the family and the company and moved the whole operation to Florida…Nice going, Hartford, you scared away another HUGE taxpayer!

Buyer: A Greenwich couple (who have NOT been driven out of CT….yet)

Listing broker: Chris Finlay, Halstead Real Estate

Selling broker: Rob Johnson, Halstead Real Estate

Note: Town of Greenwich tax records show that State of CT conveyance taxes of $596,000 and Town taxes of $120,000 were collected, so you can figure out the sale price (which was undisclosed) by using either the Town tax amount or the State amount.

Like so:

State: .75%, up to $800,000 and 1.25% on amounts above $800,000. For this sale, the first $800,000 caused a tax of $6,000. The balance, $47,200,000 X 1.25% = $590,000. Therefore, ipso fatso! a sale price of $48,000,000.

4 thoughts on “The Biggest Sale Of The Year

  1. yeah they scared one off but another came, so are they really scaring people off as you state. And this was a record at the time, so ??? people are buying at record highs. how is Hartford messing up?

    • Entities, whether businesses, sports teams, or states, rarely fail suddenly. It’s usually a long, drawn-out process. Connecticut is failing by any measure: shrinking population, shrinking tax revenues (despite frequent raising), and, unlike nearly every other state in the union, our economy has actually shrunk in the years since 2008.
      Aside from a few spots, like Fairfield County, the rest of the state looks poor and desperate. Hartford Democrat policies have scared away existing businesses, convinced other businesses not to move here, and deterred new business start-ups. If you can name a Republican-run state in this kind of economic condition, please do so.

  2. Pingback: Westchester & Fairfield Cheat Sheet: White Plains YMCA site set for $100M apartment complex, $48M Greenwich sale is priciest in 5 years… & more |

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